Garrett lost his reelection bid last year. But he has not convinced businesses that his views on the Export-Import Bank, which extends credit to foreign buyers of U.S. exports, have changed, according to Politico.

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Garrett has also faced scrutiny for reportedly telling lawmakers in a private meeting last year that he would not pay dues to the National Republican Congressional Committee because the organization sought to recruit gay congressional candidates. He has denied that he made such a statement.

A White House spokeswoman said that Trump stands behind Garrett's nomination, asserting that the former representative is qualified to lead the Export-Import Bank.

But according to Politico, the administration is trying to find a way to withdraw Garrett from consideration without embarrassing the White House.

As a presidential candidate, Trump suggested that he would do away with the Export-Import Bank if elected.

But since taking office, he has changed his tone on the agency, telling The Wall Street Journal in an interview in April that "actually, it's a very good thing."